In recruitment, the time to fill each job order has a direct impact on personnel budgets. Emily Smykal, who writes for Jibe, notes that time to fill reflects “how quickly and efficiently" a recruiter can source and hire a new worker – meaning that measuring time to fill could help recruiters find where and how they can improve their processes.
Based on the most recent figures from the DHI Hiring Indicators, which offers labor market insights from career provider DHI Group, Inc. and Dr. Steven Davis, the average vacancy duration for jobs to be filled was 29.2 working days in May 2016.
The MRINetwork’s 2016 Recruiter & Employer Sentiment Study may shed some light on why it’s taking so long to fill jobs. The report advises that 86% of recruiters feel the labor market is candidate driven, and 62% of employers also agree that talent is driving employment results in their market sectors. Shortages of quality talent and the ease at which candidates reject undesirable offers are making it tough to close work orders fast enough.
High time to fill averages are alarming for many recruiters, but they are a sign that candidates continue to be in control in the job market. The MRI Network report digs deeper into the state of things by sharing that there has also been a rapid number of new jobs being created (63%) at the same time that replacement of departing workers (Baby Boomers) is occurring (40%). The report also indicates that employers are being more cautious about who they hire, holding out for 'perfect’ candidates, and then having to scramble to offer better compensation before the competition does.
Smykal pointed out that HR continues to be bombarded with the administrative processes of recruitment – such as weeding through multiple resumes of unqualified applicants produced by online job boards, and building relationships with passive candidates. However, she does make a good point that along with talent acquisition support, passive candidates may be a more efficient way to move talent into jobs faster because they have the proven skills employers want.